Arista Networks Inc (NYSE:ANET) rose 6% on Tuesday after Oppenheimer raised their price target on the stock from $200.00 to $270.00. Oppenheimer currently has an outperform rating on the stock. Arista Networks traded as high as $251.95 and last traded at $251.06. Approximately 1,394,700 shares traded hands during mid-day trading, an increase of 67% from the average daily volume of 833,640 shares. The stock had previously closed at $236.77.
A number of other analysts have also commented on the stock. BidaskClub raised shares of Arista Networks from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 31st. Royal Bank of Canada raised shares of Arista Networks from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, November 8th. Citigroup reaffirmed a “buy” rating and set a $275.00 price objective on shares of Arista Networks in a research note on Monday, December 18th. They noted that the move was a valuation call. JMP Securities upped their price objective on shares of Arista Networks from $185.00 to $230.00 and gave the company a “market perform” rating in a research note on Thursday, October 26th. Finally, KeyCorp reaffirmed a “buy” rating on shares of Arista Networks in a research note on Friday, November 3rd. Fourteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $203.24.
In other Arista Networks news, insider Anshul Sadana sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $189.95, for a total transaction of $2,279,400.00. Following the completion of the sale, the insider now owns 86,788 shares of the company’s stock, valued at $16,485,380.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Marc Taxay sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $235.58, for a total value of $471,160.00. Following the sale, the senior vice president now directly owns 13,460 shares of the company’s stock, valued at approximately $3,170,906.80. The disclosure for this sale can be found here. Insiders have sold 606,126 shares of company stock valued at $138,901,364 in the last ninety days. Company insiders own 28.09% of the company’s stock.
The company has a current ratio of 3.66, a quick ratio of 3.07 and a debt-to-equity ratio of 0.03. The firm has a market cap of $18,180.00, a PE ratio of 52.09, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38.
About Arista Networks
Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.
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